BANK OF BARODA v. H.C.SHRIVASTAVA

Mumbai Postal Employees Co-Operative Credit Society Ltd, Mumbai vs. Income Tax Officer, Ward 17(2)(1), Mumbai

In the result, both the appeal of the assessee are allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-Operative Credit Ward 17(2)(1) Society Limited, Gpo Room No. 115, 1 St Floor, Building, Fort, Kautilya Bhavan, C-41 To Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaajm0032G Appellant .. Respondent

…P a g e | 1 ITA Nos. 1050 & 1051/Mum/2023 Mumbai Postal Employees Co-operative Credit Society Ltd. Vs. ITO, Ward 17(2)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-operative Credit Ward 17(2)(1) Society Limited, GPO Room No. 115, 1 st Floor, Building, Fort, Kautilya Bhavan, C-41 to Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAAJM0032…

Mumbai Postal Employees Co-Operative Credit Society Ltd, Mumbai vs. Income Tax Officer, Ward 17(2)(1), Mumbai

In the result, both the appeal of the assessee are allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-Operative Credit Ward 17(2)(1) Society Limited, Gpo Room No. 115, 1 St Floor, Building, Fort, Kautilya Bhavan, C-41 To Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaajm0032G Appellant .. Respondent

…P a g e | 1 ITA Nos. 1050 & 1051/Mum/2023 Mumbai Postal Employees Co-operative Credit Society Ltd. Vs. ITO, Ward 17(2)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-operative Credit Ward 17(2)(1) Society Limited, GPO Room No. 115, 1 st Floor, Building, Fort, Kautilya Bhavan, C-41 to Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAAJM0032…

ACIT 28 (2), Navi Mumbai vs. M/S Neel Siddhi Developers, Navi Mumbai

Bench: Shri Amit Shukla, Jm & Shri S Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.30/Mum/2020 (निर्धारणवर्ा / Assessment Year: 2011-12) The Assistant Commissioner M/S Neel Siddhi Developers 2Nd Floor, The Emerald Plot No. Of Income Tax 28(2), 195/B, Sec-12, Vashi, Navi Mumbai बिधम/ Mumbai- 400 703 Room No.307, 3Rd Floor, Tower Vs. No.6, Vashi Railway Station Complex, Navi Mumbai- 400 703 स्थायीलेखासं./जीआइआरसं./ Pan No. Aagfn2744N (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

…the head "Capital Gain". Therefore, the decision of AY 2004-05 in Rajesh Builders case which has attained finality may kindly be followed in view of rule of precedence has laid down by Mumbai High Court in the case of Bank of Baroda vs. HC Shrivastava (2002) 256 ITR 385 (Bom.) I. It is important to mention that the Assessee did not deal in past or in subsequent years and is a solitary transaction of the purchase and sale of land. 9. The CIT(A) has in Para 6.2 from page nos. 7- 22, summarised the arguments of the Assessee and thereafter, allowed the claim of the Assessee as per reasoning provided in para 6.5 of t…

Shree Kulswami Co-Op.Credit Society Ltd, Navi Mumbai vs. ITO WD-28(3) (2), Mumbai

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2014-15

…'ble ITAT, Mumbai in the assessee's case on same issue. We are in appeal before the Hon'ble Bombay High Court for AY. 2007-08, 2008-09 & 2009-10. The assessee further relied on the precedence laid down in the case of Bank of Baroda Vs H. C. Shrivastava (2002) 256 ITR 385 (Bom.) The fact of the above referred case was different from the present case as the department has not accepted the decisions of the Appellate Tribunals and Hon'ble High Courts and department is in appeal before the Hon'ble Apex Court on the same issue. 5 M/s. Shree Kulswami Co-op Credit Society Ltd. 2. In view of the above discussion it is he…

DCIT(E)-2(1), Mumbai vs. Nehru Centre, Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bledcit (E) – 2(1) V. Nehru Centre Room No. 519, 5Th Floor Discovery Of India Building Piramal Chambers, Lalbaug 13Th Floor, Dr. Annie Besant Road Worli, Mumbai - 400018 Mumbai – 400 012 Pan: Aaatn2536J (Appellant) (Respondent) Assessee By : Shri Dilip Thakkar Department By : Shri Dilipkumar Shah

…addition in to the Trust property only on account of income received from the letting out of the trust assets. JUDGMENT OF JURISDICTIONAL TRIBUNAL IS BINDING We submit that the Jurisdictional Bombay High court in the case of Bank of Baroda Vs H.C. Srivastava 256 ITR 385 held that “decision of jurisdictional Tribunal is binding on the lower authorities including the AO. Accordingly, we submit the recent judgment of Mumbai ITAT in the case of Shri Sanmukhanand Fine Arts and Sangeetha Sabha supra is binding in the case of the appellant and should be followed accordingly DEDUCTION U/S 11 CANNOT BE DENIED IF REGISTRA…

Dy CIT CC 6 (3), Mumbai vs. M/S Karanja Terminal and Logistics Pvt Ltd., Mumbai

The appeals of the revenue are dismissed

Bench: Shri Shamim Yahya () & Shri Ravish Sood () Ita Nos.6897 & 6898/Mum/2019 (Assessment Years: 2011-12 & 2012-13)

…re prescribed for mandatory charging of interest u/s 234B of the Act. for default in payment of self- assessment tax w.ef 01.04.1989 onwards.” The ld. Counsel has relied on the decision of the Bombay High Court in the case of Bank of Baroda vs. H. Srivastava [256 ITR 385], wherein the Hon’ble Court has held as under: ITA Nos. 6897 & 6898/Mum/2019 A.Ys. 2011-12 & 2012-13 17 Dy.CIT, CC-6(3) Vs. M/s Karanja Terminal and Logistic Pvt. Ltd. “16. At this juncture, we cannot resist from observing that the judgment delivered by the Tribunal was very much binding on the AO. The AO was bound to follow the judgments in it…

Dy CIT CC 6 (3), Mumbai vs. M/S Karanja Terminal and Logistics Pvt Ltd., Mumbai

The appeals of the revenue are dismissed

Bench: Shri Shamim Yahya () & Shri Ravish Sood () Ita Nos.6897 & 6898/Mum/2019 (Assessment Years: 2011-12 & 2012-13)

…re prescribed for mandatory charging of interest u/s 234B of the Act. for default in payment of self- assessment tax w.ef 01.04.1989 onwards.” The ld. Counsel has relied on the decision of the Bombay High Court in the case of Bank of Baroda vs. H. Srivastava [256 ITR 385], wherein the Hon’ble Court has held as under: ITA Nos. 6897 & 6898/Mum/2019 A.Ys. 2011-12 & 2012-13 17 Dy.CIT, CC-6(3) Vs. M/s Karanja Terminal and Logistic Pvt. Ltd. “16. At this juncture, we cannot resist from observing that the judgment delivered by the Tribunal was very much binding on the AO. The AO was bound to follow the judgments in it…

Rose Rock Real Estate India Pvt., Mumbai vs. ITO (TDS) 2(1)(3), Mumbai

In the result, these appeals are allowed

…levy of late fee u/s 234E in the intimation u/s 200A is contrary to the law laid down by Jurisdictional Tribunal which is binding on the lower authority as per the decision of Hon'ble Bombay High Court in the case of Bank of Baroda v. H.C. Shrivastava [(2002) 256 ITR 385 (Bom)] and thus, the 7 Rose Rock Real Estate India Pvt. Ltd. CIT APPEALS had in turn to follow the law laid down by Hon'ble Jurisdictional High Court while levying the late fee u/s 234E in the intimation u/s 200A and therefore, not following the decision of Hon'ble Jurisdictional H.C. was a mistake apparent from record which should have been rec…